By Sheila Dang (Reuters) – Overspending on Twitter Inc for $44 billion was the easy part. Now, Tesla Inc Chief Executive Elon Musk must prove why he believes that Twitter is worth 10 times that amount and turn around a social media platform that he has spent months ridiculing. Earlier this month, the outspoken billionaire…
BEIJING (Reuters) – China Evergrande New Energy Vehicle Group Ltd has started deliveries of its Hengchi 5 electric vehicle, with the first 100 customers getting their cars on Saturday, it said on its official Wechat account. The company, a unit of heavily indebted property developer China Evergrande Group, launched production of the vehicle at a…
By Lewis Krauskopf NEW YORK (Reuters) – A bounce in U.S. stocks that has defied a barrage of major earnings disappointments faces a key test in the coming week, when the Federal Reserve’s next meeting could shed light on how long it will stick to the aggressive monetary policies that have crippled asset prices in…
By David Shepardson (Reuters) -Polish national airline PLL LOT on Friday asked a U.S. judge to declare it was a crime victim in the Boeing 737 MAX criminal case, a move that could make the airline eligible for significant compensation. U.S. District Judge Reed O’Connor in Texas ruled last week that people killed in two…
SAO PAULO (Reuters) – Brazil’s electricity company Eletrobras offered on Friday a voluntary buyout to well over 2,000 people representing roughly 22% of its workforce, in a first major cost cutting move following its privatization. Centrais Eletricas Brasileiras SA, as the company is formally known, said the voluntary layoff program will apply to 2,312 employees…
By Valentine Hilaire MEXICO CITY (Reuters) – U.S. authorities approved Mexico’s government plan to recover its Category 1 aviation rating, revoked roughly a year and a half ago, according to a statement published by the Mexican Foreign Ministry on Friday. Mexico expects to end its action plan to recover the U.S.-issued aviation rating in December,…
By Joseph Ax (Reuters) -With the U.S. midterm elections less than two weeks away, Elon Musk’s $44 billion acquisition of Twitter could unleash a fresh wave of election misinformation just as voters are casting ballots that will determine control of Congress for the next two years, political and media experts say. Musk, the CEO of…
By Elvira Pollina MILAN (Reuters) -Telecom Italia (TIM) decided on Friday to give Italian state lender CDP and its partners until Nov. 30 to submit a non-binding offer for the former monopoly’s landline grid, two sources with knowledge of the matter said. Talks between TIM, Italy’s biggest telecoms group, and CDP will continue on a…
NEW YORK (Reuters) – Credit Suisse Group’s newly created investment bank, CS First Boston, will advise on mergers and acquisitions, raise capital for clients through equity and debt markets, and provide leveraged finance as part of its core offerings, according to an internal memo seen by Reuters.”CS First Boston will be global with a presence…
By Sheila Dang (Reuters) – Mere hours after Elon Musk kicked off a new era at Twitter Inc, the billionaire owner was deluged with pleas and demands from banned account holders and world leaders. The flood of requests underscore the challenge the CEO of electric car maker Tesla Inc faces, balancing a promise to restore free…
